Saudi Arabia: Amino Resin Market 2024

Amino Resin Market Size in Saudi Arabia

After two years of growth, the Saudi amino resin market decreased by X% to $X in 2022. Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2021, and then shrank in the following year.

Amino Resin Production in Saudi Arabia

In value terms, amino resin production amounted to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Amino Resin Exports

Exports from Saudi Arabia

In 2022, amino resin exports from Saudi Arabia amounted to X tons, picking up by X% against the year before. Overall, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, amino resin exports expanded remarkably to $X in 2022. Over the period under review, exports saw a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Belgium (X tons) and South Korea (X tons) were the main destinations of amino resin exports from Saudi Arabia, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Belgium ($X) and South Korea ($X) were the largest markets for amino resin exported from Saudi Arabia worldwide, together comprising X% of total exports.

Among the main countries of destination, Belgium, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average amino resin export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt slump. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Egypt ($X per ton) and Belgium ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced a decline.

Amino Resin Imports

Imports into Saudi Arabia

In 2022, purchases abroad of amino resins decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced slightly in the following year.

In value terms, amino resin imports reduced notably to $X in 2022. Over the period under review, imports, however, continue to indicate modest growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of amino resin to Saudi Arabia, with a X% share of total imports. Moreover, amino resin imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of amino resins to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average amino resin import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform